Our Industry

The long term care business is a growth industry for many reasons. Chief among them is our aging population. Direct caregiving is the fastest growing sector in the U.S. job market according to the U. S. Bureau of Labor. By the year 2020 those aged 50 and older will increase by 74%. By 2010, 500,000 new CNA positions will be created. The question is,how will our industry be able to recruit, train and retain the caregivers to fill those positions?

As an executive in the elder care industry, you understand the importance of monitoring costs. With reductions in Medicare payouts, higher insurance premiums and ever-increasing competition, balancing the budget can become quite a challenge. One of the biggest burdens on your bottom line is the cost of staff turnover.

The average rate of staff turnover in long term care is 93%. Expenses associated with separation, vacancy, replacement and training bring the average cost of losing one CNA to $5,000.

With figures this staggering it is easy to see how a single facility can lose hundreds of thousands of dollars. For larger corporations, those losses could total millions.

Obviously, reducing turnover is key to controlling costs. Reducing turnover begins with effective staff training that increases caregiver confidence and leads to greater job satisfaction. Staff retention further benefits your business by bringing your facility into compliance, reducing liability and increasing demand for your services as your experienced workforce improves the quality of care.